LAWS 3003 Lecture Notes - Lecture 2: Test Case, Shopping Channel, Consumer Protection
Document Summary
Laws3003b class 2 when contractual obligations arise. A contract is an agreement between two people a relationship to be bound at law. Tort is a branch of private law that is concerned with accidents. Contracts are not wrongs or things we do wrong, but simply agreements. A contract is a promise or a set of promises which the law will enforce, exchanged between two or more parties. There are five requirements for the formation for a legally biding agreement: offer, acceptance. 3: consideration (exchange, certainty of terms (we need to know what has been offered/accepted) A proposition made by an offeror to an offeree, coupled with an intimation of willingness to be bound by that proposition at law. Offeror makes the offer to the offeree. Offeree accepts the offer from the offeror. Promisors i promise to sell you my car on friday . Promisee i agree; i will buy your car on friday .
